The Bank Rate has been maintained at 4.75 percent during the Monetary Policy Committee (MPC) meeting held on October 31, 2019. Inflation increased from 2.9 percent in August to 3 percent in September 2019, and was below but closer to the lower bound of the Bank’s objective range of 3 – 6 percent. Nonetheless, inflation is projected to revert to within the objective range in the second quarter of 2020.

Read Monetary Policy Committee decision statement